Apple (NASDAQ:AAPL) announced earnings after the bell yesterday that may signal the beginning of the end of the company's dominance and shook those that believed the company would grow indefinitely to the core. The iPhone maker earned $13.81 per share, down from $13.87 a share in the same period last year. Revenue increased 18 percent to $54.51 billion from $46.33 billion. Analysts expected the company to report earnings excluding items of $13.47 a share and $54.73 billion in revenue.
Shares are sharply lower in early trading.
Nokia (NYSE:NOK) announced that it earned ‚Ç¨202 million, or $270 million, n the fourth quarter, versus a loss of $1 billion in the same period last year, but revenue fell 20 percent as it failed to make gains in the competitive smartphone market. Revenue dropped to ‚Ç¨8 billion, $10.6 billion, from ‚Ç¨10 billion as smartphone sales fell by 55 percent versus the same period last year. The company also suspended its dividend to save cash for its new smartphone launch.
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